11:58 a.m. IST: Jaitley announces Rs 25,000 crore for recapitalisation of public sector banks. This is nearly thrice the provision of Rs 9,555 crore made in 2015-16 for the recapitalisation of public sector banks. However, the allocation is reportedly short of expectations.

11:54 a.m. IST: "I propose to amend the SEBI Act 1992."

11:52 a.m. IST: "100% FDI through FIPB route in marketing of food products produced and manufactured in India": Jaitley

11:48 a.m. IST: Rs 3,000 crore has been earmarked for nuclear power generation.

11:46 a.m. IST: "The total outlay for infrastructure in Budget 2016 stands at Rs 2,21,246 crore.

11:42 a.m. IST: "Rs, 55,000 crore allocated for roads and highways": Jaitley. The total investment in the road sector would be Rs 97,000 crore during 2016-17.

11:35 a.m. IST: A Higher Education Financing Agency to be set up with a fund of Rs 1000 crore. Digital literacy scheme to be launched to cover 6 crore additional rural households.

11:31 a.m. IST: "Rs 2,000 crore to meet initial cost of providing LPG connections to benefit 1 crore BPL households in 2016-17." The LPG connections will be in the name of women members of poor households, Jaitley said.

11:29 a.m. IST: 100% village electrification to be achieved by May 1, 2018: Jaitley. Rs. 87,765 crores for rural development as a whole have been allocated in Budget 2016-17.

11:20 a.m. IST: A dedicated irrigation fund worth Rs 20,000 crore to be set up under NABARD, Jaitley says. Rs 19,000 crore to be allocated for the Pradhan Mantri Gram Sadak Yojana. while Rs. 5500 crores will be allocated to the Fasal Bima Yojana for 2016-17.

11:15 a.m. IST: "Our total allocation on farmers welfare is Rs. 35,984 crore. Five lakh acres to be brought under organic farming over a three year period": Jaitley

11:11 a.m. IST: "Farm, rural sector, infrastructure, social sector to have more Government expenditure."

11:10 a.m. IST: The government is launching a new initiative to ensure BPL families are provided with cooking gas subsidies.

11:09 a.m. IST: "Budget 2016-17 will cast an additional burden on account of recommendations of the Seventh Pay Commission and the implementation of OROP."

11:08 a.m. IST: "The risks of global slowdown and turbulence are mounting. We must strengthen the firewalls against these risks. We must rely on domestic demand and Indian markets to ensure Indian growth does not slow down."

11:06 a.m. IST: Jaitley highlights achievements of the Modi government - Growth of GDP has accelerated to 7.6%. The CPI inflation has come down to 5.4%.

"Our initiatives in the last 21 months had bridged the trust deficit created by the previous government."

11:03 a.m. IST: "I am presenting the budget when the global economy is in a serious crisis": Jaitley. "The Indian economy has held its ground firmly. A lot of confidence continues to be built around India."

9:35 a.m. IST: The Sensex opens 38.86 points lower on the day of the Budget 2016. It is currently at 23,115.44.

Finance Minister Arun Jaitley is set to present the second full-fledged budget of the Narendra Modi government Monday, and expectations are high on announcements of reforms, relief for farmers as well as for the industry.

Jaitely's finance ministry had called for suggestions on the Budget 2016 on Twitter, and many people voted for farmers and the agriculture sector to be given maximum focus.